부산대학교 도서관

Although consequentiality has transformed the focus of stated preference research, there are concerns with including elicited consequentiality perceptions in econometric models. We test the effect of varying the order of the valuation and consequentiality questions using data from a drinking water reliability survey. We find that this ordering has a substantial impact on consequentiality perceptions. We address the potential endogeneity of consequentiality perceptions and find that they do not have a significant impact on voting. These results provide caution on the use of consequentiality questions and suggest these questions may not be a panacea for stated preference validity issues. (JEL Q25, Q51)